Monthly Archives August 2014
August 28, 2014 New Zealand Finance
The Labour Party intends to offer affordable homes to New Zealanders for NZD 577 per week.
In the run up to the national election the Labour party has put forward its proposed policy for affordable housing in the country, claiming that their plan would leave a couple buying their first home approximately NZD 200 better off per week than the equivalent plan from the National Party.
According to a statement issued by the Labour Party, “Labour’s KiwiBuild policy will build 100,000 new affordable homes over ten years and sell them at cost to first home buyers”, a move, which it claims will help increase the supply of housing in the country.
The houses, which would cost approximately NZD 360 000 in Auckland, will cost NZD 577 per week in repayments for a couple earning NZD 75 000 per y...Read More
August 21, 2014 New Zealand Taxation
An independent review has cast some doubt over the tax changes proposed by the Green Party.
The projections completed by the Green party regarding its proposed changes to personal income taxes may have been overly optimistic, and may not raise the revenues expected by the party, according to information in a new report completed by the independent auditor Infometrics.
The Green Party has proposed that the top marginal rate of income tax should be hiked to 40 percent on incomes exceeding NZD 140 000 per year, and that the tax rate for trusts should be matched at 40 percent.
The changes were projected to raise as much as NZD 1 billion a year, to be used for projects to prevent child poverty.
However, according to the findings detailed in the report by Infometrics, the projected tax revenu...Read More
August 7, 2014 New Zealand Taxation
The Labour Party is looking to use targeted taxes to encourage farmers to make better use of waterways for irrigation.
Earlier this week the spokesperson for water of the Labour Party Meka Whaitiri announced a proposed initiative aimed at cleaning the nation’s waterways, lakes and rivers by charging a tax on the use of water resources for irrigation of farms.
In its statement the Labour Party stated that the tax will be a resource rental “on any large water takes for irrigation”, with the collected revenues to be used for funding to “..support proposals for water storage and irrigation schemes provided they have a broad consensus from their communities.”
It is expected that levying a tax on water will encourage farmers to make more efficient use of resources, and may push for a...Read More